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DOMESTIC EXPANSION. The Asean+3 Macroeconomic Research Office (AMRO) hiked its 2022 growth forecast for the Philippine economy to 6.9 percent from 6.5 percent as the economy continues to reopen. AMRO chief economist Hoe Ee Khor said consumption, investments, and the services sector are also expected to boost domestic expansion. (PNA file photo) MANILA - The Asean+3 Macroeconomic Research Office (AMRO) has hiked its 2022 growth forecast for the Philippine economy amid slashing its projection for the Asean+3 on account of the Russia-Ukraine conflict and tighter global financial situation. It now sees a 6.9 percent expansion, as measured by gross domestic product (GDP), for the domestic economy this year, higher than its 6.5 percent projection last April. The 2023 projection, however, was kept at 6.5 percent. "The driver for this growth is basically the opening of the economy," AMRO chief economist Hoe Ee Khor said in a virtual briefing on Tuesday. He said growth will be also dr ....

The Philippines , Bangko Sentral , Macroeconomic Research Office , Research Office , Hoe Ee Khor , Monetary Board , Domestic Expansion The Asean 3 Macroeconomic Research Office Amro Hiked Its 2022 Growth Forecast For Philippine Economy To 6 9 Percent From 5 As Continues Reopen Chief Economist Hoe Ee Khor Said Consumption , Nd The Services Sector Are Also Expected To Boost Domestic Expansion Pna File Photo Manila Asean 3 Macroeconomic Research Office Amro Has Hiked Its 2022 Growth Forecast For Philippine Economy Amid Slashing Projection On Account Of Russia Ukraine Conflict And Tighter Global Financial Situation It Now Seesa 6 9 Percent , S Measured By Gross Domestic Product Gdp , Or The Domestic Economy This Year , Igher Than Its 6 5 Percent Projection Last April The 2023 , As Kept At 6 5 Percent Quot The Driver For This Growth Is Basically Opening Of Economy , Uot Amro Chief Economist Hoe Ee Khor Said Ina Virtual Briefing On Tuesday He Growth Will Be Also Driven By Domestic Consumption And Investment , Uch As Infrastructure Or Projects Under The Quot Build , Uild Quot Program Khor Said The Domestic Economy Is Expected To Do Relatively Well In Terms Of Growth This Year Amid Coronavirus Disease 2019 Covid 19 Infections Due Part Continued Vaccination Drive He Since Philippines Basicallya Service And Bpo Business Process Outsourcing Sector Doing Very , Mro Expects The Sector Quot To Continue Do Well And Expand As Philippines Isa Service Oriented Economy Has Been Reopened Given Drop In Covid 19 Infections , Hor Said It Is Quot Less Affected By External Demand Even With The Downturn In Us Quoti Think Spillover To Philippine Economy Would Not Be As High For Other Economies , Uot He Said For The Asean 3 Gdp , Mro Eyes This To Be Around 4 3 Percent Year From 7 Previously , Hile The 2023 Forecast Was Hiked To 4 9 Percent From 6 In Terms Of Inflation And Its Impact On Bangko Sentral Ng Pilipinas 39 Bsp Monetary Policy Stance , Hor Said The Central Bank Has Leeway To Quot Really Increase Its Key Rates As Economic Growth Is Expected Continue Recovery And Remain Strong We Worry About Inflation But Because It Isa Supply Shock , He Advice Would Be To Look Through The Shock And Try Support Economy , Uot He Said Forecasts The Bsp To Hike Its Key Rates Quot Neutral Level , Hich Is Probably Around 4 Percent Quot But Even Though Rates Are Rising , Onetary Policy Conditions Remain Accommodative So , T Will Not Bea Drag On Growth Because The Is Basically Self Sustaining ,